Johnson v. Citizens & Southern National Bank

Gardner, Presiding Judge.

It will be noted that the plaintiff sues on the notes here involved as a bona fide holder for value before maturity. Defendant contends that the plaintiff is not a bona fide holder for value before maturity and, therefore, is not entitled to recover.

The agreement between the defendant (insured and maker) and the Morgan & Morgan Insurance Agency (payee and indorser) is set forth in the face of each of the "conditional acceptance premium notes” sued on.

This agreement provides expressly and by necessary implication the following: (a) The notes are “tendered” to the…